In 2001, when Hispanics made up approximately 12.9 percent of the U.S. population (it is 14.1 percent currently), the Hispanic percentage of homeowners was about half of that -- around 7 percent -- in three of four residential property categories. The exception being the 2- to 4-unit or multifamily category, where 13.7 percent of all owners were Hispanic.

This is according to the highly detailed 368-page U.S. Census report "Residential Finance Survey: 2001," sponsored by the U.S. Department of Housing and Urban Development, which breaks residential ownership and financing information out by ethnic/racial group.

The multi-family dwelling category of home ownership is the smallest in number of units nationwide, by comparison with the 1-unit property category and two of its sub-sets, condominiums and mobile home properties (see chart "Hispanic Home Ownership Statistics").

But the higher rate of Hispanic multi-family property ownership is considered potentially indicative of:

•A tendency for Hispanics to pool their resources and then live with extended family in these larger properties.

•And/or a tendency for Hispanics with the financial means to focus more strongly on real estate as their primary investment. Homes are the asset most likely to be owned by Hispanic households after vehicles, according to the Pew Hispanic Center.

As for the less-than-population-proportionate rate of Hispanic ownership in the other three categories, potential reasons are that:

• On average, Hispanics tend to be younger than the rest of the U.S. population. Home ownership involves a large investment and tends to be accomplished later in life, once education is complete and careers are more established.

• Hispanics have a lower income on average than the rest of the U.S. population (which is also partly a function of the population's greater youth, since earnings tend to increase as people get older), but also partly reflects lower average level of educational attainment, and less access to lucrative jobs. Home ownership may not be financially feasible.

• And, according to research by HispanTelligence®, many Hispanics may face difficulties in obtaining mortgages owing to a lack of experience with and understanding of U.S. financial institutions, as well as issues with legal status.

Data on Hispanic Home Financing

Across all types of residential properties, a smaller percentage of Hispanic homeowners than non-Hispanic homeowners hold residences that are non-mortgaged (in other words, free of debt).

For example, among owners of 1-unit homeowner properties, 26.7 percent of Hispanic owners have no mortgage – versus 33.9 percent of non-Hispanic homeowners.